Controversy Surrounds Gauntlet's Departure from Aave After 4 Years of Collaboration
On February 21st, 2024, John Morrow, co-founder of Gauntlet, announced the termination of their risk management collaboration with Aave. Gauntlet, specializing in DeFi risk management, has provided oversight of platform risk levels, offered frequent updates to the Aave community, and set borrowing and lending parameters since 2020.
Aave DAO, known for its decentralized governance, entrusts professionals like Gauntlet to support community initiatives. However, Morrow cited challenges in navigating inconsistent guidelines and unmet objectives from Aave's major stakeholders as reasons for the split.
The unilateral decision sparked community outcry, with many questioning Gauntlet's departure motives. Former Aave CTO Ernesto Boado expressed disappointment, noting that Gauntlet's action undermined community trust. He acknowledged the possibility of better collaboration opportunities but disagreed with any mistreatment claims by Gauntlet against Aave.
Similarly, Marc Zeller, another key DAO member, criticized Gauntlet for exploring other partnership prospects and invoking what he deemed a "poor excuse" against Aave DAO.
In response, Nick Cannon, Gauntlet's Vice President of Growth, defended their decision, suggesting Aave DAO sought Gauntlet's exclusive services without compensation, unlike other entities.
Gauntlet maintains their departure is to optimize growth and uphold their mission. Meanwhile, the Aave community continues to debate the issue with no resolution in sight.
As of the latest update, AAVE tokens trade around $90 USD, showing minimal fluctuations over the past 24 hours.
Chart: 1H AAVE/USDT pair on Binance at 12:00 PM on February 22, 2024.
